Futures and options

F&O trade is considered as a non-speculative business. Intra-day stock trades are treated as a speculative business.

To calculate gross income from F&O trades, take your transaction statement for the whole year. Look at your receipts; these may be a positive or a negative value.

Sum these up for the whole year. Expenses can be deducted from your gross income.

Refer: tax-on-derivative-trading